MANAMA — The Central Bank of Bahrain (CBB) has granted a licence to Germany's Allianz Group, the world's second largest insurance firm, to establish an insurance operation.
Allianz Takaful (Bahrain) will serve as the Allianz Group's global hub for Islamic insurance. It is being established as a wholly-owned subsidiary of Allianz Group.
Allianz Takaful (Bahrain) will undertake family takaful, with a focus on life insurance, investment-linked insurance as well as health and medical insurance.